Basis Calculations & Distributions For Pass-thru Entity Owners Schedule K-1 Analysis (Latest)

4.6 (92)

J. Patrick Garverick, CFP, CPA

THE GARVS LLC

Monday, April 26, 2021 | 10:00 AM EDT

  • AFSP
  • CPA
  • CVA
  • EA
  • Tax Preparer
  • CPA/PFS
  • CTEC
  • CFE

8 Credits

$120

Subject Area

Taxes

Webinar Qualifies For

8 CPE credit of Taxes for all CPAs

8 CPD credit (Verifiable) for CPA/PFS

8 CE credit of Annual Filing Season program (AFSP)( IRS Approved : GEHNZ )

8 CE credit of Federal Tax for Enrolled Agents ( IRS Approved : GEHNZ )

8 CE credit of Federal Tax for Maryland Tax Preparers

8 CE credit of Federal Tax for Oregon Tax Preparers

8 CE credit of Federal Tax Subjects for California Tax Professionals (CTEC Approved - 6273)

8 General Educational credit for Tax Professionals / Bookkeepers / Accountants

Upcoming Webinars

understand salt compliance, economic nexus, wayfair case in the new era of e-commerce

(3)

Mar 18, 2021 | 03:00 PM EDT View Details

accounting policies, changes in accounting estimates and errors

(1)

Apr 21, 2021 | 10:30 AM EDT View Details

introduction to excel pivottables

(1)

Apr 21, 2021 | 01:00 PM EDT View Details

critical impact of the secure & cares acts on your clients retirement and estate plans (latest 2021)

Apr 23, 2021 | 02:00 PM EDT View Details

crucial insights & tax strategies on s corporation

(1)

Apr 27, 2021 | 10:00 AM EDT View Details

top 10 things all cpas need to know about irs representation

(117)

Apr 27, 2021 | 01:30 PM EDT View Details

form 1040nr nonresident alien filing challenges and effective approaches

(1)

Apr 30, 2021 | 01:30 PM EDT View Details

comprehensive guide to identity theft with case studies

(3)

May 13, 2021 | 10:00 AM EDT View Details

complete cfo guide on analytics,corporate performance management,budgeting,reporting

May 13, 2021 | 10:00 AM EDT View Details

noteworthy salt developments: from wayfair and beyond, revolutionary changes to state tax landscape

(40)

May 13, 2021 | 02:30 PM EDT View Details

qualified business income deduction (qbi/section 199a)

(46)

May 13, 2021 | 02:30 PM EDT View Details

capital gains and other proposed tax changes in the infrastructure bills

May 13, 2021 | 03:00 PM EDT View Details

restaurant revitalization fund and all you need to know

(4)

May 13, 2021 | 03:30 PM EDT View Details

savvy social security planning: all you need to know about social security claiming strategies

(99)

May 13, 2021 | 04:00 PM EDT View Details

excel accountant: beyond vlookup

(1)

May 14, 2021 | 10:00 AM EDT View Details

Additional Dates

May 17, 2021 | 08:00 AM PDT Register
May 24, 2021 | 10:00 AM EDT Register
May 31, 2021 | 08:00 AM PDT Register
Jun 07, 2021 | 10:00 AM EDT Register

This webinar is also available in self-study (On-Demand)

Click Here

Course Description

This online comprehensive case-driven webinar is designed to get the accountant up to speed quickly in the area of basis calculations and distribution planning for the owners of pass-thru entities (i.e., S corporations, partnerships, and limited liability companies (LLCs)). The cornerstone of this course is the line-by-line analysis of the Schedule K-1s and how it affects the basis calculations. This online CE webinar is taught using a Hands-On methodology. Real-world examples and cases are used to demonstrate the complex income tax code and regulations to enhance the participant's learning experience. Each attendee will receive the most comprehensive reference manual with numerous practice aids, real-world examples, and case studies.

This Online CE Webinar includes following topics but are not limited to:

  • Detailed coverage of any new legislation affecting basis computations and distributions and changes to the schedule K-1s
  • A line-by-line analysis of the Schedule K-1s to determine how the items affect an S shareholder’s stock and debt basis and a partner/member’s the outside basis and where the items get reported on Federal individual income tax return
  • The three loss and deduction limitations on the owner’s individual income tax return (i.e. basis, at-risk and other Form 1040 limitations)
  • How cash or non-cash distributions affect the basis calculations and whether or not they are taxable to the owners
  • Compare the tax treatment of the sale of a shareholder’s stock in an S corporation and a partner’s interest in a partnership
  • What constitutes debt basis for an S corporation shareholder under the final regulations
  • The tax ramifications of repaying loans to S corporation shareholders and on open account debt
  • How recourse and non-recourse debt affect a partner or member’s basis calculations and amount at-risk


J. Patrick Garverick is one of the most admired and best-reviewed Tax Speaker in the country and we are offering the classes at a much-discounted price during the pandemic. His courses have been best-reviewed time and again 

  • For Quality of Content
  • For Relevance and Practical Case studies
  • For Best Teaching Approach
  • For Best Course Material


Awards and Accolades

  • Award for Instructor Excellence for California Education Foundation
  • Award for Outstanding Course materials for California Education Foundation.
  • Rated top tax instructor in nearly every location he has presented 
  • One of the few instructors to have received perfect scores (multiple times) from attendees for both presentation skills and knowledge. 


After registering for this webinar you will get Free E-Book worth $200. The book would be emailed to you, a day before the webinar on your registered email address on myCPE. The book is copyright protected. 

Recommended for Tax professionals that need an in-depth training course on basis calculations and distributions rules for S-Corporations, partnerships, LLCs and their owners​.

Learning Objectives

  • To identify the 3 main reasons for calculating a shareholder’s basis in a S corporation and partner/member’s basis in a partnership/LLC
  • To calculate the stock and debt basis for S corporation shareholders
  • To calculate the basis for partners and members of a LLC
  • To calculate losses allowed from at-risk activities
  • To review the Form 1120S and Form 1065 Schedule K-1s to determine how the line items affect basis calculations and get reported on the individual owner’s Form 1040

Who Should Attend?

  • California Registered Tax Professional
  • CPA - Large Firm
  • CPA - Mid Size Firm
  • CPA in Business
  • Enrolled Agent
  • Entrepreneurial CPA
  • Maryland Tax Preparers
  • Oregon Tax Preparers
  • Personal Financial Specialist (PFS)
  • Tax Accountant (Industry)
  • Tax Director (Industry)
  • Tax Firm
  • Tax Practitioners
  • Tax Preparer
  • Tax Pros
  • Young CPA

Testimonial

Array
(
    [no_of_record] => 92
    [average] => 4.5870
)
 

4.6

(92)
67%
27%
3%
1%
1%

RT

J. Patrick did a great job in presenting the information regarding S Corps owned by Trusts and the intricacies of tax laws and how it applies to them. A lot of information that I wasn't familiar with and it broadened my understanding and allows me to apply what i learned to situations that apply.

ER

Tons of valuable information, lots of hand-outs to refer to and a recording of the session to enjoy it over and over again. There was so much knowledge in this session that I need to go back and do it again to maximize the full benefit .Thanks.

JAM

The instructor was educated in this field of study, he answered all questions. enjoyed taking this course and will definitely take more classes, He is engaged with the audience, and answers questions, both during the webinar and off-line.

MG

Although I currently have no S corp clients, the information presented makes me curious enough to consider taking some on! In addition to the rich technical content of the webinar, I appreciated our instructor's sense of humor. Much needed these days!

JL

It was a fabulous webinar

HG

Very informative material and the lecturer explains complicated tax concepts well by using examples.